Real Estate

Home builders buck market trend on Wall Street

According to MarketWatch:

Hovnanian Enterprises (HOV) shares rose 2.7% after the Commerce Department said that sales of new homes rose 2.3% to 454,000 in April, the second highest post-recession level, on pent-up demand and low interest rates.

Toll Brothers (TOL) closed up 1.4%, Lennar Corp. (LEN) gained 2.6%, KB Home (KBH) added 1.6% and Ryland Group (RYL) advanced 1.1%.

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